Arshiya to set up SEZ warehouses

Mumbai: Logistics firm Arshiya International will invest in setting up free trade warehousing zones (FTWZ) across India by fiscal year 2011-12.

FTWZs are specific zones near a port or a inland that allows duty-free storage of imported goods and also provides space for assembling products. The group plans to have five FTWZ with an investment of Rs 2,500 crore.

The firm has already received an approval from the Special Economic Zone Board for an FTWZ in Nagpur city in Maharashtra. It is looking to set up similar facilities in Mumbai and the northern state of Uttar Pradesh.

Its first FTWZ will come up in April in Jawaharlal Nehru Port Trust, Mumbai (JNPT), second in September and the third will come up in Nagpur by December theis year.